Polygon (MATIC) - moving in Flag Channel, Looking For New ATH
MATICUSDT has been consolidating and moving in a flag channel since Friday.
MATIC is a framework to build & deploy Ethereum-compatible blockchains.
We're looking at a breakout to the upside as the most probabilistic scenario.
Targets:
TP1 is at last resistance at ATH area around 0.92 USDT.
If we break TP1 and make a new ATH, you could trail your SL to the measured target $1.24 (= size of the Flag's Pole in pips).
Entries:
First entry is at support of (4) but is less probabilistic to hold than the 2nd entry.
2nd entry is on retest of the channel when we see a successful breakout and is more probabilistic to hold.
MATIC has a market cap of $4b & is currently ranked #45 on CMC making it a midcap (<$10b).
The Matic Network was recently rebranded to Polygon & has seen a growth in interest and usability over the recent days.
Polygon is a framework and protocol for building Ethereum compatible networks. MATIC is the native token of Polygon.
There are preset blockchains ready to be customized and deployed in one click (like websites templates).
It's an interoperable protocol which means it can send messages between Ethereum and other blockchains.
Polygon sounds like a promising project and with Ethereum growing in interest & demand this looks bullish in the midterm for MATIC as well.
Follow me if you'd like to see more content similar to this & thanks for reading! 👋
MATIC is a framework to build & deploy Ethereum-compatible blockchains.
We're looking at a breakout to the upside as the most probabilistic scenario.
Targets:
TP1 is at last resistance at ATH area around 0.92 USDT.
If we break TP1 and make a new ATH, you could trail your SL to the measured target $1.24 (= size of the Flag's Pole in pips).
Entries:
First entry is at support of (4) but is less probabilistic to hold than the 2nd entry.
2nd entry is on retest of the channel when we see a successful breakout and is more probabilistic to hold.
MATIC has a market cap of $4b & is currently ranked #45 on CMC making it a midcap (<$10b).
The Matic Network was recently rebranded to Polygon & has seen a growth in interest and usability over the recent days.
Polygon is a framework and protocol for building Ethereum compatible networks. MATIC is the native token of Polygon.
There are preset blockchains ready to be customized and deployed in one click (like websites templates).
It's an interoperable protocol which means it can send messages between Ethereum and other blockchains.
Polygon sounds like a promising project and with Ethereum growing in interest & demand this looks bullish in the midterm for MATIC as well.
Follow me if you'd like to see more content similar to this & thanks for reading! 👋